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“Accelerating the drilling program only makes sense given the upside,” said Ari Sussman, CEO of Continental Gold.

The alterations are being made to an agreement originally announced on August 1.

Robertson, the current chief financial officer of Eco Oro, is filling a void left by the recent resignation of Mark Moseley-Williams.

“The agreement unites the shareholders of Eco Oro in pursuit of its arbitration claim against the Republic of Colombia,” said Eco Oro.

Three rigs are now operating in this 15,000-meter exploration campaign, and two more are planned to join the effort later this year.

Anna Stylianides, executive chairman of the company’s board, will serve as interim president and interim CEO, said Eco Oro in a statement.

The South African mining company said it made the "unfortunate decision to stop all project activities...until there's certainty about mining activity in the country."

While confirming the news, the gold mining company said that the director's resignation was "due to other business and personal commitments."

The credit agreement is expected to provide immediate access to $100 million USD for project development, construction, and working capital.

Brazil Resources Inc shares initially jumped 20% after the U.S. economic data came in to put it up more than 500% for the year.